earnings
confidence high
sentiment positive
materiality 0.65
Bogota Financial Q2 net income rises 14% to $1.6M; net interest margin improves to 2.85%
Bogota Financial Corp.
2022-Q2 EPS
reported $0.22
vs consensus $0.12
▲ beat
(+79.7%)
- Q2 net income $1.6M vs $1.4M YoY (+14.1%); H1 net income $3.0M vs $4.4M (down 31.5% due to $1.9M bargain purchase gain in 2021).
- Net interest margin expanded 41 bps to 2.85% in Q2; net interest income up 19.5% to $5.7M.
- Total loans grew $60.6M (+10.6%) to $630.8M; total assets up 4.5% to $874.9M.
- Second stock buyback program for up to 292,568 shares approved; 145,582 shares repurchased by June 30.
- Management expects assets to reach $900M but cites rate hikes and inflation as challenges.